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Parafigm Shift Thomas Kuhn A Change in The Basic Assumptions, Or, Within The Ruling of

Innovation requires creating an idea or technology that meaningfully changes people's lives and has value in the marketplace. True innovation goes beyond invention by embodying useful ideas through implementation and bringing them to market, where economic growth occurs. For innovation to succeed, it cannot suspend the rules of either physical reality determined by science and technology, or economic reality as determined by what users want and are willing to pay.

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83 views2 pages

Parafigm Shift Thomas Kuhn A Change in The Basic Assumptions, Or, Within The Ruling of

Innovation requires creating an idea or technology that meaningfully changes people's lives and has value in the marketplace. True innovation goes beyond invention by embodying useful ideas through implementation and bringing them to market, where economic growth occurs. For innovation to succeed, it cannot suspend the rules of either physical reality determined by science and technology, or economic reality as determined by what users want and are willing to pay.

Uploaded by

DaniH46
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© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Innovacin Week 1 Value in market Impact in marketplace Create a transcendent idea or device that changes the life of people.

. Definition The process of putting ideas into useful form and bringing them to marketplace (true engine of economic groth) It is the embodiment (expression) of a useful idea in the marketplace Not science or invention (innovation is not the same as invention). Need to have value in the marketplace. Highest expression of both Economics!!! Physical reality!!!! The ultimate boundary conditions for innovation
Parafigm shift Thomas Kuhn a change in the basic assumptions, or paradigms, within the ruling theory of science.

"A paradigm is what members of a scientific community, and they alone, share" Mppre law Three basic elements Economics: Humans Physics: Physical reality

Deterministic failure Suspension of physical reality or economics ultimately leads to innovation failure

Intellectual honesty: Do not suspends the reality of either realm (andy grove , intel) Components of realities Physical reality realm Technology: Science technology invention (new and old) Implementation Industry, intellectual property, geography (new and old) e.g for examples exempli gratia
Human realm Market use want buyer surplus ( whatever value e.g. flavor experience) price Implementation Cost Business model Strategy Summary Technology implementation marketplace

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